Mortgage for self-employed, good deposit

(12 Posts)
lamii Wed 07-Sep-16 16:10:04

Hello,

Does anyone know if I have a chance to get a mortgage to buy a 400k house in London under these conditions:
- my partner has 65% of the amount cash (he is self employed but doesn't earn much now)
-I am self-employed, abroad now and I would be willing to get a part-time job

Thanks a lot

kirinm Wed 07-Sep-16 20:16:40

We borrowed with a 20% mortgage and DP is self employed. He needed to produce 3 years of SA302s. And I think they took the average of two years.

Do you mean you've been working abroad and intend to come here and work part time? You'll need to be working in the UK for a mortgage I would imagine but I might be wrong.

A 65% deposit will get you a good deal subject to income.

pullingmyhairout1 Wed 07-Sep-16 20:21:02

Really does depend on income. You will be better off working in uk unless you work for an English company and are paid in sterling.

Lonecatwithkitten Wed 07-Sep-16 21:24:00

Remortgaged a few months ago needed two years of audited accounts, they offered me 3.5 times declared profit. It was Britannia.

lamii Wed 07-Sep-16 21:26:19

Thanks for your replies.
I am not in the UK and I have started my 'business' not long ago which means I can not prove of much income. Not stable...
I'm wondering if I was going to add an employed part-time job when coming back to the uk (I was there as a student for several years) if that would help with the situation.

KittensDoNotLikeFluffyBlankets Wed 07-Sep-16 21:30:12

Try the Clydesdale Bank. They usually look quite favourably at high equity purchases, can be flexible on terms. They let my mum have a mortgage at 65, on a small pension, with no life insurance because she had over 70% equity.

KittensDoNotLikeFluffyBlankets Wed 07-Sep-16 21:30:36

Mind you,she had been a customer for 30 years

pullingmyhairout1 Wed 07-Sep-16 21:32:02

Frankly I think you'd be better off speaking to a whole of market broker.

QuiteLikely5 Wed 07-Sep-16 21:36:10

Try London & country what they don't know about the mortgage lenders isn't worth knowing!

lamii Sun 11-Sep-16 13:41:14

Ok how about this situation:
My partner has 65% of the amount needed to buy the house. If I have a low paid job (such as Pret-a-manger). Do you think we have a chance to get a mortgage of 80-100K? I'm an artist so I have to find solutions like that...

LittlePickleHead Mon 12-Sep-16 00:10:40

Well you'd probably need to earn at least £25k to get a £100k mortgage so not sure how likely that is part time at Pret? Would your partner also be getting a job?

pullingmyhairout1 Mon 12-Sep-16 07:03:51

How much does your partner earn. Do you have any debts. How old are you. Any credit problems.

All of these would need answering first

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